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Mobile Home Park

Forest Village Mobile Home Park

15614 Fitzgerald Dr, Forest Ranch, CA 95942

Listing Price: $995,000

Cap Rate
6.76%
Number of Spaces
20
Lot Size
6.00 acres
Occupancy
84.0%
Price/Space
$49,750
Spaces/Acre
3.33
Year Built
1961

Investment Overview

Forest Village MHP is located at 15614 Fitzgerald Drive in Forest Ranch, California. Currently the park has 17 mobile homes that are occupied and 3 spaces that need infrastructure improvements. The park is licensed for 20 spaces by the HCD. The park runs on well and septic. The septic system has 6 separate tanks. Electric and propane are sub metered. Tenants are charged a flat fee of $15 for water, $10-15 for garbage, and $15 for sewer. There is 400-amp electrical service to the park. Each space has 50-amp service. The water system is in great shape with a new pump and new pvc pipes to the homes. The streets are compounded aggregate. There is a laundry room and ample RV storage on-site. The park is an all age community.Currently spaces 7 and 11 are for sale. There is a $25 rental increase that will be effective July 1, 2022. The rental increase has been underwritten in the current financials. There is no rent control in the town of Forest Ranch. Forest Ranch is an unincorporated community and census-designated place in Butte County. It includes Forest Ranch Charter School, its own post office, a California Department of Forestry, and Volunteer fire stations. The US Geological Survey reports the town's elevation as 2,415 feet (736 m) above mean sea level. Some residents commute to work in Chico, about fifteen driving miles west on SR32.

Investment Highlights

  • Non Rent Controlled Market
  • Upside in Rents
  • All Age Park

Exclusively Listed By

Mobile Home Park

Forest Village Mobile Home Park

Listing Price: $995,000

Cap Rate
6.76%
Number of Spaces
20
Lot Size
6.00 acres
Occupancy
84.0%
Price/Space
$49,750
Spaces/Acre
3.33
Year Built
1961

Investment Highlights

  • Non Rent Controlled Market
  • Upside in Rents
  • All Age Park

Investment Overview

Forest Village MHP is located at 15614 Fitzgerald Drive in Forest Ranch, California. Currently the park has 17 mobile homes that are occupied and 3 spaces that need infrastructure improvements. The park is licensed for 20 spaces by the HCD. The park runs on well and septic. The septic system has 6 separate tanks. Electric and propane are sub metered. Tenants are charged a flat fee of $15 for water, $10-15 for garbage, and $15 for sewer. There is 400-amp electrical service to the park. Each space has 50-amp service. The water system is in great shape with a new pump and new pvc pipes to the homes. The streets are compounded aggregate. There is a laundry room and ample RV storage on-site. The park is an all age community.Currently spaces 7 and 11 are for sale. There is a $25 rental increase that will be effective July 1, 2022. The rental increase has been underwritten in the current financials. There is no rent control in the town of Forest Ranch. Forest Ranch is an unincorporated community and census-designated place in Butte County. It includes Forest Ranch Charter School, its own post office, a California Department of Forestry, and Volunteer fire stations. The US Geological Survey reports the town's elevation as 2,415 feet (736 m) above mean sea level. Some residents commute to work in Chico, about fifteen driving miles west on SR32.

Exclusively Listed By

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